Oligopoly is the term for a situation in which a few firms control most of an industry; film studios and record labels are examples.

Name: Oligopoly is the term for a situation in which a few firms control most of an industry; film studios and record labels are examples.
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Oligopoly refers to a market structure where a small number of firms have significant control over an industry, which is true for film studios and record labels.

Oligopoly Is the Term for a Situation in Which a Few